We all want money and be millionaires or even billionaires. But why be a dollar billionaire when you are already a time billionaire. In this video, I will be talking about the idea of a time billionaire and how you are already way richer than most billionaires in the world.
I recently read about this idea of a time billionaire which was resurfaced in pomp’s newsletter.
Graham Duncan who is the co-founder of East Rock Capital, appeared on the Tim Ferris Podcast in March of 2019 and spoke of a concept called “Time Billionaires”.
This was what he said during an interview,
people don’t really understand the difference between millionaires and billionaires. A million seconds is 11 days. A Billion seconds is slightly over 31 years…
And I was thinking of time billionaires that when I see, sometimes, 20-year-olds – the thought I had was they probably have two billion seconds left. But they aren’t relating to themselves as time billionaires.
So Time Billionaires are people who have huge amounts of time which is one of the most valuable resources in the world because it can’t be exchanged, as far as we know.
Now let mw give you an example, lets assume that time can also be shared with other people or exchanged for money.
How much would Charlie Munge who is vice chairman of Berkshire Hathaway and also 96 years old with a net worth of $2B pay to be 10 years younger? Probably a lot of money. And how much money would a time billionaire or a 20 year old want to receive in order to miss out on their twenties and instead be a richer 30 year old? You can just comment how much money you would take in exchange for 10 years of your life.
There are probably two types of people in the comment section, one who is pretty confident that they would never accept billions of dollars in exchange for 10 years of their life because time is precious and irreplacable while some others might be more willing to exchange 10 years so that the money they receive in exchange can solve their problems whether that is debt or being stuck doing something that they dont enjoy.
This brings us to the second part of this video about the different between time billionaires and free time billionaires. Having a billion seconds is great, but the thing that really matters is how you spend your time. Most of us would rather be a little bit older than be stuck at a job we don’t like in our 20s. Let’s go back to the example of exchanging 30 years of your life for 1 Billion dollars. Would you rather be a broke college student with thousands of dollars in debt but your still very youthful and have your whole time ahead or would you rather be 50 years old with a billion dollars spending your life how you want to spend your time. Maybe you want to spend the entire day watching YouTube videos, or producing a film or drawing or travelling the world with your partner or visiting different planets. Anything you want. p.s. such a great book by derek sivers.
Instead of being just a time billionaire, being a free time billionaire is amazing. But in order to be a free time billionaire, you need to be rich in dollars. So what’s the answer.
Like all things in life, there is no one answer which is annoying. Now you have to just be creative and do what feels right for you young one said Aristotle.
Having $2B is amazing, 2B Seconds is Priceless and 2B Seconds without restraints is even more wordless to describe